Quin Xu’s Post

🎉🎉🎉 On July 30, Monaco-based shipowner and operator Scorpio Tankers officially released its Q2 2026 earnings report, which also unveiled the company’s fleet expansion plans. These plans include signing letters of intent for two LR2 product tankers, firming orders for two MR product tankers, and taking equity stakes in eight newbuilding Very Large Crude Carriers (VLCCs). In July 2026, Scorpio Tankers signed letters of intent with Jiangsu Hantong Shipbuilding for two LR2 product tankers fitted with scrubbers. Each vessel is priced at 72.8 million US dollars, with deliveries scheduled for Q2 and Q3 2029. In the same month, Scorpio Tankers reached an agreement to acquire a minority stake of less than 15% in a joint venture that owns eight scrubber-equipped VLCCs under construction. Delivery of these vessels is slated between Q3 2029 and Q2 2030. Scorpio Tankers did not disclose details about the joint venture, the shipyard building the eight VLCCs, or the construction costs in the report. The company stated it will make staged equity contributions in line with the payment milestones stipulated in the shipbuilding contracts.